Brokerages Set FB Financial Co. (NYSE:FBK) PT at $52.60

FB Financial Co. (NYSE:FBK) has been given a consensus rating of “Hold” by the five ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $52.60.

Several equities research analysts recently issued reports on FBK shares. Piper Sandler raised FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research note on Tuesday, March 11th. Keefe, Bruyette & Woods increased their price target on shares of FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd.

FB Financial Price Performance

FB Financial stock opened at $46.56 on Wednesday. FB Financial has a fifty-two week low of $33.35 and a fifty-two week high of $58.88. The firm’s 50 day simple moving average is $50.59 and its 200-day simple moving average is $50.76. The company has a market cap of $2.17 billion, a P/E ratio of 18.85 and a beta of 1.16.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. On average, analysts expect that FB Financial will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.63%. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 11th. FB Financial’s payout ratio is currently 30.77%.

Insider Buying and Selling

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction on Monday, January 6th. The stock was purchased at an average cost of $51.40 per share, for a total transaction of $102,800.00. Following the completion of the purchase, the insider now directly owns 10,913,841 shares of the company’s stock, valued at $560,971,427.40. The trade was a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have bought 16,000 shares of company stock worth $813,900. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On FB Financial

Several institutional investors and hedge funds have recently modified their holdings of FBK. JPMorgan Chase & Co. lifted its holdings in FB Financial by 293.8% in the 4th quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider’s stock worth $13,544,000 after purchasing an additional 196,172 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of FB Financial in the fourth quarter valued at approximately $9,546,000. 12th Street Asset Management Company LLC lifted its stake in shares of FB Financial by 65.2% in the fourth quarter. 12th Street Asset Management Company LLC now owns 197,300 shares of the financial services provider’s stock worth $10,163,000 after buying an additional 77,885 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in shares of FB Financial by 489.5% during the 4th quarter. Tudor Investment Corp ET AL now owns 70,696 shares of the financial services provider’s stock worth $3,642,000 after buying an additional 58,703 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in FB Financial by 29.0% in the 4th quarter. Nuveen Asset Management LLC now owns 259,809 shares of the financial services provider’s stock valued at $13,383,000 after buying an additional 58,402 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Company Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.